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2015 (9) TMI 1006 - AT - Income TaxValidity of assessment under Section 153A/153C - Held that:- In the present case, the assessment pertaining to Assessment Years 2003-04 to 2007-08 had not been abated. This fact is not disputed by the Revenue. Therefore, in these years, the assessment ought to have been made on the basis of incriminating material as per the decision of the Hon’ble Special Bench in the case of All Cargo Global Logistics Ltd. vs. Dy. CIT, Central Circle-44 (2012 (7) TMI 222 - ITAT MUMBAI(SB)). The Revenue has not pointed out what was the incriminating material available on the basis of which the impugned assessment orders had been framed. In the absence of such material, we cannot sustain the impugned assessment in view of the binding precedent as relied upon by the assessee. Therefore, we hereby quash the assessment orders pertaining to AYs 2003-04 to 2007-08 as challenged before us in this bunch of appeals. - Decided in favour of assessee.
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